The Biggest Lies about Recessions and War
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(24:29)
Business Cycles
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The Economic Culture of Boom and Bust
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(29:32)
Problems in Cycle Theory
Jorg Guido Hülsmann addresses some of the Problems in Cycle Theory at the 2003 Austrian Scholars Conference.
Banking and the Business Cycle
One of the most difficult things to understand about banking is how money is created out of thin air. Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are mismanaged.
Doubts about Recovery
Overall economic efficiency does not concern GDP growth per se, writes DW MacKenzie. It concerns the satisfaction of consumer demand. Increased military spending does not directly satisfy consumer demand. Nor do increased deficits and monetary stimulation substitute for market forces. They only set in motion another round of cyclical economic trends.
The Economy Pulls an All-Nighter
To help explain the complex analytics behind the Austrian Theory of the Business Cycle, an analogy seems to help. Suppose that, in his 8:00 a.m. class, a student was assigned a paper which is due tomorrow. Of course, he has not yet started working on it. In order to finish the paper on time, he decides to pull an "all-nighter."
Housing Bubble, The
To most, the strong housing market has "saved" the economy by providing consumers with fresh purchasing power and housing gains have helped cushion many from the withering blows of the stock market’s decline.
But the housing boom is not an unmitigated good.
